Key Takeaway:
Summary of new crypto bill proposing joint oversight by SEC and CFTC, promotion of cooperation for digital asset framework, inclusion of industry experts on advisory committee, and ongoing regulatory discussions.
Capitol Hill’s Initiative for Cryptocurrency Oversight
Recently introduced by U.S. Representative John Rose, the Bridging Regulation and Innovation for Digital Global and Electronic Digital Assets bill aims to establish a Joint Advisory Committee comprising experts from the SEC and CFTC, emphasizing collaboration over enforcement for effective regulation of cryptocurrencies.
American Lawmakers and Cryptocurrency Regulations
Washington’s interest in setting standardized rules for the crypto industry is evident through bills like the BRIDGE Digital Assets Act and the Financial Innovation and Technology for the 21st Century Act. Despite differing approaches, the SEC and CFTC are exploring ways to regulate digital assets like Ethereum and Bitcoin, with discussions ongoing at multiple levels.
